Lululemon Athletica Inc ( LULU ) reported first-quarter financial results Thursday after the market close. Here’s a look at the key details from the quarter.

Q1 Earnings: Lululemon reported first-quarter revenue of $2.37 billion, beating the consensus estimate of $2.36 billion, according to Benzinga Pro.

Total revenue was up 7% on a year-over-year basis as Americas net revenue increased 3% and international revenue climbed 19%. Total comparable sales increased 1% year-over-year.

The athletic apparel company reported first-quarter earnings of $2.60 per share, in line with analyst estimates.

Inventories were up 23% year-over-year to $1.7 billion. Lululemon’s total store count was 770 at quarter’s end after opening three net new company-operated stores during the quarter.

The company ended the quarter with approximately $1.3 billion in cash and cash equivalents.

“In the first quarter, we achieved growth across channels, categories, and markets, including the U.S., reflecting the continued strength and agility of our business model. Additionally, guests responded well to the product innovations, newness and brand activations we delivered around the world,” said Calvin McDonald, CEO of Lululemon.

Outlook: Lululemon expects second-quarter revenue of $2.54 billion to $2.56 billion, versus estimates of $2.56 billion. The company anticipates second-quarter earnings of $2.85 to $2.90 per share versus estimates of $3.31 per share.

Lululemon continues to expect full-year 2025 revenue to be in the range of $11.15 billion to $11.3 billion versus estimates of $11.24 billion. The company lowered its full-year earnings forecast to $14.58 to $14.78 per share, down from prior guidance of $14.95 to $15.15 per share. Analysts are anticipating full-year earnings of $14.88 per share.

“As we navigate the dynamic macroenvironment, we intend to leverage our strong financial position and competitive advantages to play offense, while we continue to invest in the growth opportunities in front of us,” McDonald said.

Lululemon executives will further discuss the company’s quarterly performance on a conference call with investors and analysts at 4:30 p.m. ET.

LULU Price Action: Lululemon shares were down 17.62% in after-hours, trading at $272.25 at the time of publication Thursday, according to Benzinga Pro.

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